Johnson & Johnson (NYSE:JNJ) Stock Position Boosted by Vest Financial LLC

Vest Financial LLC raised its position in Johnson & Johnson (NYSE:JNJ - Free Report) by 10.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 405,364 shares of the company's stock after purchasing an additional 39,217 shares during the quarter. Johnson & Johnson accounts for approximately 1.0% of Vest Financial LLC's portfolio, making the stock its 10th largest holding. Vest Financial LLC's holdings in Johnson & Johnson were worth $67,226,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WealthTrak Capital Management LLC bought a new stake in Johnson & Johnson in the fourth quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Johnson & Johnson in the 4th quarter worth about $29,000. Bay Harbor Wealth Management LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $32,000. Conquis Financial LLC acquired a new position in Johnson & Johnson in the 4th quarter worth about $33,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of Johnson & Johnson during the 4th quarter valued at about $36,000. 69.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on JNJ shares. Wall Street Zen downgraded Johnson & Johnson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Benchmark raised Johnson & Johnson to a "strong-buy" rating in a research note on Thursday, April 24th. Leerink Partnrs cut Johnson & Johnson from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 13th. Morgan Stanley boosted their target price on Johnson & Johnson from $164.00 to $169.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 16th. Finally, Barclays decreased their price objective on Johnson & Johnson from $166.00 to $165.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Johnson & Johnson presently has an average rating of "Moderate Buy" and a consensus price target of $170.88.

Johnson & Johnson Price Performance

JNJ traded up $1.36 on Friday, hitting $155.02. 5,387,625 shares of the company's stock traded hands, compared to its average volume of 7,938,687. The company's 50 day simple moving average is $153.56 and its 200-day simple moving average is $153.67. The firm has a market cap of $372.99 billion, a price-to-earnings ratio of 23.31, a P/E/G ratio of 2.56 and a beta of 0.42. Johnson & Johnson has a one year low of $140.68 and a one year high of $169.99. The company has a current ratio of 1.11, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43.

Johnson & Johnson (NYSE:JNJ - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The company reported $2.77 EPS for the quarter, beating the consensus estimate of $2.59 by $0.18. Johnson & Johnson had a return on equity of 34.24% and a net margin of 18.20%. The company had revenue of $21.89 billion for the quarter, compared to the consensus estimate of $21.65 billion. As a group, research analysts anticipate that Johnson & Johnson will post 10.58 EPS for the current year.

Johnson & Johnson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Tuesday, May 27th will be given a dividend of $1.30 per share. This is a positive change from Johnson & Johnson's previous quarterly dividend of $1.24. This represents a $5.20 annualized dividend and a yield of 3.35%. The ex-dividend date of this dividend is Tuesday, May 27th. Johnson & Johnson's dividend payout ratio is currently 57.84%.

About Johnson & Johnson

Johnson & Johnson is a holding company, which engages in the research, development, manufacture, and sale of products in the healthcare field. It operates through the Innovative Medicine and MedTech segments. The Innovative Medicine segment focuses on immunology, infectious diseases, neuroscience, oncology, cardiovascular and metabolism, and pulmonary hypertension.